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Thomas J. Klima, the Chief Commercial and Operating Officer of bluebird bio, Inc. (NASDAQ:BLUE), a biotechnology company with a market capitalization of $38.5 million, has recently sold 500 shares of the company’s common stock. According to InvestingPro analysis, the stock is currently trading near its 52-week low of $3.56, having declined over 86% in the past year. The shares were sold at an average price of $3.9194, with the transaction totaling approximately $1,959. This sale was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units. Following this transaction, Klima retains ownership of 7,878 shares of bluebird bio. InvestingPro analysis suggests the stock is currently undervalued, with 16 additional key insights available to subscribers, including detailed financial health metrics and growth projections. Get access to the comprehensive Pro Research Report covering BLUE and 1,400+ other US stocks to make more informed investment decisions.
In other recent news, bluebird bio, Inc. has announced an acquisition agreement with Carlyle and SK Capital Partners (WA:CPAP), which will lead to bluebird becoming privately held. The transaction, which is anticipated to close in the first half of 2025, offers stockholders $3.00 per share in cash and a contingent value right of $6.84 per share, dependent on reaching specific sales milestones. Additionally, bluebird bio has ended its sublease agreements with Aventis Inc. and Meta Platforms (NASDAQ:META), Inc., allowing Meta to sublease directly from Aventis. This termination was disclosed in a recent SEC filing and is considered a significant change in bluebird’s operational strategy.
RBC Capital Markets has adjusted its price target for bluebird bio from $80 to $8, maintaining a Sector Perform rating due to concerns over adverse events linked to bluebird’s treatments. These events include cases of acute myeloid leukemia and myelodysplastic syndromes, raising questions about the safety of certain therapies. In a separate analysis, Baird has also lowered its price target for bluebird bio from $120 to $54, citing potential near-term dilution but maintaining an Outperform rating. Baird’s analysis reflects the need for additional capital to support the company’s operations until profitability is achieved in the latter half of 2025. These developments highlight the challenges and strategic shifts bluebird bio is navigating in the biotechnology sector.
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